Healthcare M2M market accounted for USD 22.14 Billion in 2020 and is expected to reach USD 32.97 Billion by 2028, growing at a CAGR of 5.1% from 2021 to 2028.

SUITE N202, NEW YORK, UNITED STATES, September 14, 2022 /EINPresswire.com/ -- According to analysts at Zion Market Research, the global Healthcare M2M market accounted for USD 22.14 Billion in 2020 and is expected to reach USD 32.97 Billion by 2028, growing at a CAGR of 5.1% from 2021 to 2028.

Some of key players in Healthcare M2M market are AT&T (U.S.), Verizon (U.S.), Gemalto (The Netherlands), Vodafone (U.K.), China Mobile (China), Sierra Wireless (Canada), Telefonica (Spain), Telit Communications (U.K), and Deutsche Telekom (Germany), among others. These players are set to bolster the development of global Healthcare M2M market.

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This review is based on a report by Zion Market Research, titled “Healthcare M2M Market by Technology Segmentation (Wired, Wireless and Cellular Technology), by Industry Vertical (Healthcare, Utilities, Automotive & Transportation, Retail, Consumer Electronic and Security & Surveillance), by Application (Patient Well-being, Medical Facilities, Sports & Fitness, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”

Increased healthcare expenditures drives the growth

Increased healthcare expenditures worldwide, particularly in developed regions such as North America, are a major factor driving growth in the healthcare M2M market. The global prevalence of chronic diseases such as diabetes, cardiovascular disease, and cancer is fueling the healthcare M2M market's growth. Furthermore, the healthcare M2M market is being driven by continuous advancements in wireless technology to bridge the gap between the healthcare provider and the healthcare receiver.

Presence of big players in the region support North American dominance

In the forecast period, North America was the largest regional market for M2M connected healthcare. North America's leading position in this market segment is due to the well-established healthcare infrastructure of the United States and Canada, as well as the presence of a large pool of technically-savvy patient population. After North America, Europe was the second-largest market. Germany, France, the United Kingdom, Italy, and Spain are the most promising markets in Europe, accounting for more than 60% of the total M2M connected healthcare market in Europe.

The healthcare M2M market is expected to grow rapidly in Asia Pacific's emerging economies, such as China and India, because these countries have the world's largest populations and lack adequate healthcare facilities. Furthermore, over the forecast period, telemedicine facilities are expected to drive market growth in these regions.

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Browse the full “Healthcare M2M Market by Technology Segmentation (Wired, Wireless and Cellular Technology), by Industry Vertical (Healthcare, Utilities, Automotive & Transportation, Retail, Consumer Electronic and Security & Surveillance), by Application (Patient Well-being, Medical Facilities, Sports & Fitness, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.

COVID-19 Impact Analysis
The outbreak of COVID-19 positively impacted the global healthcare M2M market. Lockdown significantly increased the demand for M2M technology. A key factor expected to support the growth of the global M2M healthcare market over the forecast period is an increase in government initiatives for the deployment of smart healthcare solutions in hospitals and health service providers.

Furthermore, the widespread availability of online patient communities such as MyHealthTeams, InquisitHealth, and Smart Patients is expected to help the target market grow to some extent. Additionally, various M2M benefits such as reduced time, reduced healthcare costs, easy sharing of healthcare data, and remote healthcare monitoring are expected to drive demand for M2M healthcare services and drive market growth over the forecast period.

Healthcare M2M Market: Growth Factors
Increased healthcare expenditures worldwide, particularly in developed regions such as North America, are a major factor driving growth in the healthcare M2M market. The global prevalence of chronic diseases such as diabetes, cardiovascular disease, and cancer is fueling the healthcare M2M market's growth. Furthermore, the healthcare M2M market is being driven by continuous advancements in wireless technology to bridge the gap between the healthcare provider and the healthcare receiver.

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By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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